Carmel Agrexco
{{Infobox company
|name = Agrexco Agricultural Export Company Ltd.
|logo =
|type = Partnership: Israeli government (50%), the Production and Marketing Boards (25%) and the Tnuva cooperative (25%)
|foundation=1956
|key_people= Yaacov Tsur, Chairman of the Board
Shlomo Tirosh,
Managing Director
|industry = Exporters of agricultural produce
|products = Vegetables, Flowers, Fruits, Plants
|num_employees = 500 employees in Israel and overseas (2006)
|revenue= {{profit}} €560 million (2006)
| homepage = [http://www.agrexco.co.il www.agrexco.co.il]
}}
Agrexco Agricultural Export Company Ltd. (trading as Carmel Agrexco) was Israel’s largest exporter of agricultural produce, with the European Union one of its major markets. Agrexco went into liquidation in August 2011, with debts of €175 million ($217 million), mainly owed to its bondholders that were mostly Israeli Institutional investors.{{cite news|last=Cohen|first=Amiram|title=Court expected to rule in favor of Agrexco's liquidation today|url=http://www.haaretz.com/business/court-expected-to-rule-in-favor-of-agrexco-s-liquidation-today-1.381490|newspaper=Haaretz|date=30 August 2011}}
In 2011, the Israeli court approved the offer of Gideon Bickel and Chen Lamdan to purchase the Company for 17.6 million ILS in cash and 24.4 million ILS contingent on future performance of the Company.
Etymology
The name "Agrexco" comes from the English words "Agriculture Export Company".
"Carmel" is the internationally recognized brand name used by Agrexco for fresh produce exports from Israel.[http://www.agrexco.co.il/en/leading_brand.asp Carmel: Agrexco's brand name]. Retrieved on 24 June 2009
History
Agrexco was established in 1956.{{Cite web |title=Carmel Agrexco, Israel - Tridge |url=https://www.tridge.com/sellers/carmel-agrexco}}
Company description
Agrexco was formerly a state-owned company, with 50% of its stock held by the State of Israel, 25% by the Israeli Production and Marketing Boards, and 25% by Tnuva. In August 2008, the Israeli government approved a privatization program for Agrexco, stipulating that at least 51% of Agrexco's stock should be tendered to private investors.[http://www.export.gov.il/_News/Item.asp?CategoryID=12&ArticleID=25469 Israel Export Institute, press release on privatization of Agrexco, 1 September 2008]{{Dead link|date=April 2019 |bot=InternetArchiveBot |fix-attempted=yes }} {{in lang|he}} This decision follows in the wake of the recently completed transformation of Tnuva from a cooperative owned by Israeli farmers (kibbutzim and moshavim) to a private company owned by Apax Partners. In 2007, Agrexco marketed 435,000 tons of fresh agricultural produce with a turnover of €653 million. This consisted mainly of vegetables (47%), cut flowers (19%), and fruits (14%).{{cite news| title=Agrexco| publisher=Dun & Bradstreet| url=http://duns100.dundb.co.il/2008/600000764/index.asp| work=Dun's 100| access-date=2008-09-25| archive-url=https://web.archive.org/web/20090528095831/http://duns100.dundb.co.il/2008/600000764/index.asp| archive-date=2009-05-28| url-status=dead}} In addition to exporting the produce of Israeli farmers inside the Green Line and in West Bank settlements, Agrexco is the main export channel to Europe for Palestinian fresh produce from Gaza (carnations, strawberries, cherry tomatoes, vine tomatoes),[http://www.globalfoodchainpartnerships.org/cairo/papers/AdnanYounisGaza.pdf Fresh produce exports from Gaza to EU] {{webarchive|url=https://web.archive.org/web/20090122033858/http://www.globalfoodchainpartnerships.org/cairo/papers/AdnanYounisGaza.pdf |date=2009-01-22 }}. Retrieved on 2008-09-24. which is marketed under the Coral brand name.[http://www.agrexco.co.il/en/coral.asp Coral brand name for Palestinian produce exports]. Retrieved on 24 June 2009
Global market
Agrexco has a global network of marketing branches operating in London, Frankfurt, Paris, Rotterdam, New York, Zurich, Vienna, Madrid, and Milan.[http://www.agrexco.co.il/en/global_marketing.asp Agrexco's global marketing]. Retrieved on 2008-09-24. Special sales offices in Israel deal with countries where Agrexco does not have representative offices, such as Eastern Europe, the Far and Near East. Carmel Agrexco's main UK depot is in Swallowfield Way, Hayes, Middlesex.
Organic produce
In 2009, Agrexco reported a sharp increase in the export of organic fruit and vegetables to Europe. Sales amounted to some €550 million. Agrexco also markets organic fruit and vegetables not sold in Israel, such as acorn squash, persimmons, Peruvian apple cactus, hot organic chili and mini palm tomatoes. Germany has shown the highest growth in demand for organic produce from Israel, followed by UK, France, Italy and Switzerland.
Protests in the UK
In 2006, the British anti-poverty charity War on Want reported that in addition to being the largest exporter of Israeli produce, Agrexco was the leading exporter of produce from Israeli settlements.[http://www.waronwant.org/campaigns/fighting-occupation/palestine/inform/12573-profiting-from-the-occupation Profiting from the Occupation] {{webarchive |url=https://web.archive.org/web/20090403061131/http://www.waronwant.org/campaigns/fighting-occupation/palestine/inform/12573-profiting-from-the-occupation |date=April 3, 2009 }}, War on Want On 5 July 2007, ten activists entered Carmel Agrexco depot in Hayes, Middlesex. The Israeli flag was replaced with a Palestinian flag, and the black-and-red flag of anarcho-syndicalism took the place of the Union Flag.{{cite news | title=Fortress Carmel Agrexco breached by Peace Activists | publisher=Indymedia | url =http://www.indymedia.org.uk/en/2007/07/376036.html | access-date = 2007-07-26 }} The activists handed leaflets to the workers, and two locked themselves to equipment with D locks.{{cite news|title=Protesters occupy UK warehouse of Israeli exporter |url=http://www.tehrantimes.com/Description.asp?Da=7/17/2007&Cat=2&Num=005 |work=tehran times }}{{dead link|date=November 2016 |bot=InternetArchiveBot |fix-attempted=yes }} On 18 August 2007, activists from the Camp for Climate Action entered Carmel Agrexco's UK warehouse, tore down the Israeli flag and locked themselves to gates.{{Cite web | title = UK Indymedia - 40 Climate camp Activists occupy Carmel Agrexco | access-date = 2007-08-20 | url = http://www.indymedia.org.uk/en/2007/08/378739.html}} The UK Press Association quoted Amos Orr, the general manager: “A lot of them were drunk. They broke doors, spread papers everywhere and they were very aggressive. They were singing about Hamas.” These allegations have not been verified.{{cite news| title = Heathrow protest plan to block runway - Times Online| access-date = 2007-08-20| url = http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article2284309.ece | archive-url = https://web.archive.org/web/20110612023607/http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article2284309.ece | url-status = dead | archive-date = June 12, 2011 | location=London | work=The Times | first1=Claire | last1=Newell | first2=Sophie | last2=Cole | date=2007-08-19}} On 21 June 2008, activists occupied and shut down Carmel Agrexco's HQ and UK freight warehouse for over six hours.{{cite news | title=Activists Deny Smear by General Manager of Carmel Agrexco | url =http://www.indymedia.org.uk/en/2007/08/379037.html?c=on#comments | work =indymedia | access-date = 2007-08-21 }}
See also
- [https://bdsmovement.net/news/palestinian-civil-society-welcomes-agrexco-liquidation-calls-celebration-bds-victory Agrexco faces liquidation after BDS boycott campaign]
- Agriculture in Israel
- Economy of Palestine
- Economy of Israel
- Strawberry Fields, a 2006 Israeli documentary film